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WorksheetsInt Mktg 7 8 9
Total questions: 106
Worksheet time: 1hrs 10mins
If the US sells a plane to someone in another country, is the US exporting the plane or importing the plane?
Exporting
Importing
If the US is exporting some corn to another country, what does that mean?
The US is eating the corn
The US is coloring the corn
The US is buying the corn from another country
The US is selling the corn to the other country
Why do Countries Import ?
Some countries do not have raw materials to make certain goods, they import these raw materials.
Many business owners may import tools, machinery, or technology that may not be available in their country
They may even import materials or parts of their product that they cannot get a low rate or which may not be available in their country
All of the above
When and Why do Countries Export ?
Produced at a low cost in the country but can fetch a higher price abroad
Made in large quantities and are more than enough for the people of the country
Produced only in the country and no other country
Are of very good quality compared to those produced in other countries
What is International Trade ?
The exchange of imports and exports
The country that sells a good or product
What is consumer goods ?
The goods that are not used by people
They are not available in sufficient quantity in the country
The goods used by people. Eg. tea, coffee, shoes, electronic goods we have in our homes etc.
Which of the examples are of consumer goods ?
Bananas, meat, rice, sugar
Tea, coffee, shoes, electronic goods
Wheat, mangoes, spices, handicrafts, readymade clothes
Cheese, cars, chocolate, shoes
Which of the following is NOT one of Porter's Five Forces in the Five Forces model for a hospitality business?
(a) Supplier Power
(b) Competitive Rivalry
(c) Customer Satisfaction
(d) Threat of Substitutes
a
b
c
d
The threat of new entrants in the Five Forces model refers to:
(a) The power of suppliers to increase prices
(b) The degree of rivalry among existing competitors
(c) The potential for new businesses to enter the industry
(d) The availability of substitute products or services
a
b
c
d
Which force deals with the influence that customers have on the hospitality business?
(a) Threat of Substitutes
(b) Bargaining Power of Customers
(c) Competitive Rivalry
(d) Supplier Power
a
b
c
d
What does the Bargaining Power of Suppliers refer to in the Five Forces model?
(a) The ability of suppliers to control prices or terms
(b) The number of direct competitors in the industry
(c) The availability of alternative products for customers
(d) The potential for new businesses to enter the market
a
b
c
d
Which force involves the potential of other industries' products or services affecting the hospitality business?
(a) Competitive Rivalry
(b) Threat of Substitutes
(c) Bargaining Power of Customers
(d) Supplier Power
a
b
c
d
What is market segmentation in the hotel and tourism business?
a) It refers to dividing the market into smaller groups based on age, gender, and income. b) It means building a hotel in a popular tourist destination. c) It involves offering discounts to all customers. d) It refers to the process of designing hotel logos and brochures.
a
b
c
d
Why is market segmentation important in the hotel and tourism business?
a) It helps hotels and tourism businesses save money on marketing. b) It ensures that every customer pays the same price for services. c) It allows businesses to tailor their offerings to different customer groups. d) It only benefits large hotel chains, not smaller businesses.
a
b
c
d
Which of the following is an example of market segmentation in the hotel and tourism business?
a) Offering the same vacation package to everyone. b) Creating special packages for honeymooners and families. c) Building a hotel without considering customer preferences. d) Only providing discounts to senior citizens.
a
b
c
d
What is the purpose of market segmentation in the hotel and tourism industry?
a) To make all customers pay higher prices. b) To reduce competition between hotels. c) To target specific customer groups with tailored offerings. d) To eliminate the need for advertising.
a
b
c
d
How does market segmentation benefit hotels and tourism businesses?
a) It leads to overcrowding in popular tourist destinations. b) It allows businesses to better meet the needs of different customers. c) It increases prices for all customers. d) It makes marketing more complicated and expensive.
a
b
c
d
What is target marketing in the hotel and tourism business? (a) Selling products to everyone in the market. (b) Tailoring marketing efforts to a specific group of potential customers. (c) Advertising only to people from different countries. (d) Ignoring marketing altogether.
a
b
c
d
Why is target marketing important in the hotel and tourism industry? (a) It helps businesses avoid making any profits. (b) It allows businesses to reach a specific audience with tailored messages. (c) It makes marketing efforts more expensive. (d) It's not important at all.
a
b
c
d
Which of the following best describes the goal of target marketing in the hotel and tourism business? (a) To reach as many people as possible. (b) To make products available to only a select few. (c) To attract a specific group of customers who are more likely to be interested. (d) To change the products being offered constantly.
a
b
c
d
How does target marketing benefit hotels and tourism businesses? (a) It increases marketing costs. (b) It makes it harder to communicate with customers. (c) It helps focus marketing resources on the most promising opportunities. (d) It doesn't provide any benefits.
a
b
c
d
Which of the following is NOT an example of target marketing in the hotel and tourism industry? (a) Creating vacation packages for families with young children. (b) Advertising a hotel exclusively to people over 80 years old. (c) Offering discounts to anyone who visits a website. (d) Promoting a resort for adventure seekers.
a
b
c
d
What is market positioning in the hotel and tourism business?
(a) The physical location of a hotel or tourist attraction. (b) The process of creating a unique image and identity for a hotel or tourist destination in the minds of customers. (c) The number of rooms available in a hotel. (d) The price of a hotel room.
a
b
c
d
Which of the following best describes the purpose of market positioning in the hotel and tourism business?
(a) To determine the size of the hotel. (b) To set the room rates. (c) To create a distinct and memorable identity in customers' minds. (d) To decide the hotel's location.
a
b
c
d
Why is market positioning important for hotels and tourism businesses?
(a) It helps set the hotel's operating hours. (b) It allows customers to choose the hotel's name. (c) It helps attract specific target customers and stand out from competitors. (d) It determines the hotel's menu options.
a
b
c
d
What is the primary goal of market positioning for a hotel or tourism business?
(a) To offer the lowest prices in the market. (b) To be located in a big city. (c) To create a unique and favorable perception in customers' minds. (d) To provide free transportation services to guests.
a
b
c
d
Which of the following is NOT a part of market positioning in the hotel and tourism industry?
(a) Establishing a unique brand identity. (b) Determining room prices. (c) Identifying target customer segments. (d) Creating memorable experiences for guests.
a
b
c
d
Liza has always wanted a horse, and she has finally saved enough money to buy one very soon. In marketing terms, Liza is a
market segment.
resource.
target group.
market.
To buy a product, customers in a market must first
locate the product in a store.
learn the product’s features.
make sure the product is on sale.
be willing to buy the product.
A target market can be described as the
sample of the market.
group of customers the business seeks to attract.
direction the market is headed.
way a business draws its customers.
Marzetti’s Musical Instruments has determined that it will focus its marketing efforts on senior high school students. Marzetti’s is engaged in _________ marketing.
mass
risky
target
industrial
The same person can be included in more than one
religion.
income level.
generation.
target market.
When using mass marketing, marketers seek to appeal to the __________ market.
entire
local
loyal
teen
What is it called when you divide a market into a smaller more similar market?
Marketing
Similar Markets
Market Segmentation
A target market is defined as...
Target practice for archery
A group of people identified as potential buyers
Demographics
Psychographics
Which options below describe demographics?
Hobbies
Annual Salary
Location
Likes/Dislikes
Personal characteristics that make up a target market.
Behavioral
Demographics
Psychographics
Geographics
Social lifestyles of a target market.
Psychographics
Behavioral
Demographics
Geographics
Which option below is an example of a psychographics?
Gender
Attitudes
Location
Customer Loyalty
Segmenting the market based on where people live.
Behavioral
Demographics
Psychographics
Geographics
Segmenting the market based on product related behavior.
Behavioral
Geographics
Psychographics
Geographics
Which one is an example of behavioral?
Annual Income
Purchasing the same brand of a product consistently
Where you live
Hobbies
The target market is a male, 35-45, annual income of $60,000. Which one shows how this target market is described?
Behavioral
Demographics
Geographics
Psychographics
What is target market?
Set of buyers who share common needs of characteristics.
Divide the market into affluent, middle-income or low-income consumers.
Divide segment into different geographical units.
Market offering to occupy a clear desirable place in minds of customers.
What is target market?
Set of buyers who share common needs of characteristics.
Divide the market into affluent, middle-income or low-income consumers.
Divide segment into different geographical units.
Market offering to occupy a clear desirable place in minds of customers.
Market targeting is the way product is defined by consumers on important attributes.
True
False
The segment evaluation consists of segment size and growth.
True
False
When using mass marketing, marketers seek to appeal to the __________ market.
entire
local
loyal
teen
Positioning is the process of:
Putting the product in the right place in the customer's mind.
Putting the product in the right shops.
Creating the right relationship with suppliers and retailers.
Putting the product in the right place within a retail store.
What is target market identification in product positioning?
The process of identifying the specific group of consumers or businesses that a product is intended to serve and appeal to.
The process of identifying the specific price range that a product will be sold at.
The process of identifying the specific features and characteristics of a product.
The process of identifying the specific geographic location where a product will be sold.
Why is competitive analysis important in product positioning?
To understand competitors' strengths and weaknesses, identify market trends, and differentiate products.
To copy competitors' strategies, ignore market trends, and create similar products.
To focus only on competitors' weaknesses, disregard market trends, and create similar products.
To ignore competitors' strengths and weaknesses, overlook market trends, and create similar products.
What is a unique selling proposition (USP) and why is it significant in product positioning?
A unique selling proposition (USP) is a term used to describe a product that has no competition.
A unique selling proposition (USP) is a distinctive feature or benefit that sets a product apart from its competitors.
A unique selling proposition (USP) is a marketing gimmick used to deceive customers.
A unique selling proposition (USP) is a feature that is not important in product positioning.
What is a positioning statement and how is it used in product positioning?
A positioning statement is a concise statement that communicates the unique value and benefits of a product or brand to its target audience. It is used in product positioning to differentiate the product from competitors and create a distinct image in the minds of consumers.
A positioning statement is a statement that is only used in marketing campaigns.
A positioning statement is a statement that is only used internally within a company.
A positioning statement is a long and detailed description of a product or brand.
What is perceptual mapping and how is it used in product positioning?
Perceptual mapping is a method used to analyze consumer behavior. It is used in product positioning to determine the most effective advertising channels.
Perceptual mapping is a technique used to measure the physical attributes of a product. It is used in product positioning to determine the optimal price for a product.
Perceptual mapping is a marketing strategy used to target a specific demographic. It is used in product positioning to identify the most profitable market segment.
Perceptual mapping is a visual representation of how consumers perceive different brands or products based on specific attributes. It is used in product positioning to understand the competitive landscape and identify opportunities for differentiation.
Which step in product positioning involves identifying the specific group of customers a product is intended for?
target market segmentation
brand positioning
product differentiation
market research
What is the purpose of conducting a competitive analysis in product positioning?
To understand competitors and differentiate the product.
To copy the strategies of competitors.
To collaborate with competitors and create a joint product.
To ignore the competition and focus solely on the product.
How does a unique selling proposition (USP) differentiate a product from its competitors?
By having a similar brand name to its competitors.
By offering a lower price than its competitors.
By highlighting a specific feature or benefit that sets it apart.
By copying the features of its competitors.
What should a positioning statement communicate about a product?
The price of the product.
The target market for the product.
The unique value and benefits of the product.
The manufacturing process of the product.
How does perceptual mapping help in understanding a product's position in the market?
Perceptual mapping helps in understanding a product's position in the market by analyzing sales data.
Perceptual mapping helps in understanding a product's position in the market by analyzing customer reviews.
Perceptual mapping determines a product's position in the market based on its price.
Perceptual mapping visually represents how consumers perceive different products based on their attributes or characteristics.
What is the primary objective of product positioning?
To increase the price of the product
To identify the target market
To differentiate the product in the mind of the consumer
To distribute the product in as many outlets as possible
Positioning statements are vital for a marketing plan because they help:
Determine the product price
Define the target market and how the product meets their needs.
Decide on the colors of the product packaging
Choose the geographic location for the next promotional event
Which of the following is NOT a common positioning strategy?
Price-based positioning
Competitor-based positioning
Product-based positioning
Production method positioning
The perceptual map is a tool used in positioning to:
Map out the distribution channels
Determine the price of new products
Visualize the position of a product against competitors
Chart the historical sales trends of a product
Repositioning a product is usually done when:
The product has reached the maturity stage of its life cycle
The target market's needs and preferences have changed
The product is first introduced to the market
There is a decrease in the cost of goods sold
A company that positions its product as the most durable option in the market is using:
Benefit-based positioning
Feature-based positioning
Usage occasion positioning
User-based positioning
Positioning by user is a strategy that focuses on:
The unique characteristics of the product
The price range of the product
The specific group of people who use the product
The country in which the product is made
When a company emphasizes its product's unique feature that competitors cannot match, it is using:
Price leadership positioning
Competitive positioning
Unique selling proposition (USP)
Customer-oriented positioning
"For young professionals who value sustainability, our product offers an eco-friendly alternative to traditional options" is an example of positioning by:
Price
Product attributes
User
Lifestyle
Which of the following is crucial when creating a positioning statement?
A detailed list of all product features
The history of the company
A clear articulation of the product's unique value
An overview of the global market
